Mines Management, Inc. (TSX:MGT,NYSEAMEX:MGN) has extended the exploration program at its La Estrella gold-silver project in central Peru under the terms of its agreement with the owner, Estrella Gold Corp. Under the agreement, the Company may earn a 75% interest in the property. Activities accomplished in 2013 include the modification of exploration permits to encompass the expanded areas prospective for drilling, and metallurgical studies with completion expected in May, 2013.
As quoted in the press release:
The Company has made notification to Estrella Gold Corp., along with an annual lease payment, and has submitted proposed modifications for the exploration permit to the Peruvian regulatory agencies governing the permits.
“We are gratified to extend our commitment to advance exploration on the Estrella project for a second year. Results from the 2012 drilling program and subsequent interpretation of new 3D-IP/Resistivity data indicate potential for further expansion of the mineralized zone, and we are excited to see what unfolds as we undertake the next phase of exploration,” stated the Company’s CEO, Glenn M. Dobbs.”